Tom Luxsox Coins

Double Florin

The Historic Link Between Tulips and The Sub-Prime Mortgage Debacle

by: Geoff Ficke

Almost every living individual is being effected adversely in some way by the international economic meltdown we are experiencing today. The genesis of this severe financial downturn is attributed to the United States government encouraging the expansion of homeownership to people who would have historically been deemed unworthy of obtaining credit. The banking systems participation and eagerness to leverage credit risks by extending loans to people with poor credit histories is the principal cause of the current sub-prime mortgage crisis. 

Historically, the bursting of the credit bubble follows a long and dubious line of similar scandals. Greed, hubris and suspension of common sense and disbelief are always present before the hen comes home to roost after the gravy time has ended. The panic of 1908 in the United States, the worldwide Great Depression and the implosion of the technology stock bubble in the late 1990’s are memorable examples of euphoric periods followed by great loss and assignation of blame as to the causes of these financial busts.

These peaks and troughs in economic fortune are not unique to modern times. One of the earliest documented financial crazes was the Dutch Tulip Mania in the 17th century. The Dutch, being a tiny, mercantile nation, surrounded by larger, stronger empires were the earliest creators of trade policies and sophisticated financial products. One of their most creative vehicles was the introduction of the futures market.

Tulips were introduced into the Dutch economy and agronomy early in the 17th century. They quickly became prized for their beauty and the floral engineering that created many unique, exotic varieties of tulips. An exchange mechanism developed for speculation in the valuations of the various strains of bulbs. By 1637 a full-scale mania had erupted in evaluating future tulip bulb harvests. 

Records from that period are sketchy, but it is known that a single Viceroy Tulip bulb was valued under contract for between 3000 and 4200 Dutch florins in 1637. Contrast this with the annual wage of a skilled Dutch craftsman of 150 florins per year. Isn’t this a definitive example of excessive senseless mania? 

The Dutch referred to such trading contracts as “wind trade”. This was because no one ever actually took possession of the tulip bulbs. They simply owned a piece of paper, a contract that documented their claim on the tulip bulbs. Does this example of financial engineering ring any bells today in our current distressed situation? 

The popularity of the tulip trade, and the amazing returns, mostly paper gains that were realized by the early speculators created a stampede of inexperienced, gullible speculators. Noblemen, farmers, sausage makers, chimney sweeps and day laborers began to speculate hoping to turn a few florins into exponentially huge investment returns. Of course, the last investors in, were the most harshly abused by the implosion of the tulip bulb speculative bubble. This is true in all bubble cycles.

The British economist Charles Mackey wrote a tome in the 18th century cataloguing the history of the Dutch Tulip Mania. His “Extraordinary Popular Delusions and the Madness of Crowds” remains in print to this day. Business schools and economists refer to Mackey’s study of the herd mentality of people during manias. Nevertheless, though Extraordinary Popular Delusions is still studied, its lessons have hardly been taken to heart. 

The greed and hubris that are always present in manias too often define the human condition. People tend to see someone profit from an enterprise and try to emulate their perceived success. This engenders ever more people attempting to participate in the affair and the result is a panic, a mania, a bubble, then disaster. 

The no money down payment, zero document loans, offered in the last decade created a completely different type of borrower and lender. The borrowers have no skin in the game. They get to possess a home in which they have no equity. As long as their condition is stable they can maintain possession. However, if their fiscal condition recedes, or the value of the property declines, they are in deep trouble. Foreclosure is a reasonable action for them to undertake to simply walk away from a gamble that did not work out for them.

The lenders have suspended proper underwriting standards in order to induce entry into these risky home sales transactions. They have little skin in the game, because they have conceived exotic packaged investment vehicles where mortgages are bundled and sold to investment speculators all over the world. The owner of the mortgage is actually unknown to the mortgagee, or even the originator of the loan. The loan originator collects their fees and offloads the loan obligation from their balance sheet. The risky transaction is now someone else’s responsibility. 

As a result we have endured a period of fake prosperity built on credit swaps, personal irresponsibility, corporate irresponsibility and governmental corruption. The mania of our time is cheap credit. This bubble has burst, and every homeowner faces shrinkage in the valuation of their property because of the greed of speculators and the attempt of government to secure homeownership for people who should be renters. Community banks and credit unions that have maintained high lending standards are being hurt because of the recklessness of the giant money center banking institutions.

Retirees and prudent investors have seen their savings and investments slaughtered because of the inane greed and corruption of others.

The 1990’s technology stock bust decimated a generation of people who came to believe that investing in the internet was the new “Holy Grail” for prosperity. Startup companies with no sales, no balance sheets and inexperienced management were given huge market valuations. Investors were advised that the tech boom was just in the first or second inning of this nine inning game. Brokerage firms provided guidance on equities that they actually made markets for. This bit of double dealing lead to constant buy calls on tech firms stock that insiders knew had no prospects for success. 

The Dutch Tulip Mania, the Mississippi Company, the South Seas Company, the South African Milk Culture craze and the many modern crazes, Ponzi schemes and asset bubbles that we continue to experience are testament to man’s inability to control emotions. Greed, power and wealth are aphrodisiacs for many. We are imperfect beings, susceptible to herd mentality, even when we have knowledge of history’s lessons and could apply these to spare ourselves the pain of participating in activity that will assuredly lead to great pain and loss. Discipline, responsibility and thrift are essential to long term success.

About the Author

Geoff Ficke has been a serial entrepreneur for almost 50 years. As a small boy, earning his spending money doing odd jobs in the neighborhood, he learned the value of selling himself, offering service and value for money.

After putting himself through the University of Kentucky (B.A. Broadcast Journalism, 1969) and serving in the United States Marine Corp, Mr. Ficke commenced a career in the cosmetic industry. After rising to National Sales Manager for Vidal Sassoon Hair Care at age 28, he then launched a number of ventures, including Rubigo Cosmetics, Parfums Pierre Wulff Paris, Le Bain Couture and Fashion Fragrance.

Geoff Ficke and his consulting firm, Duquesa Marketing, Inc. (www.duquesamarketing.com) has assisted businesses large and small, domestic and international, entrepreneurs, inventors and students in new product development, capital formation, licensing, marketing, sales and business plans and successful implementation of his customized strategies. He is a Senior Fellow at the Page Center for Entrepreneurial Studies, Business School, Miami University, Oxford, Ohio.

Political Map of Florin, CA $19.99 Political Map of Florin, CA - Premium Poster

Florin Rducioiu $93.99 High Quality Content by WIKIPEDIA articles Florin Valeriu Rducioiu (born 17 March 1970 in Bucharest) is a former Romanian football striker, who played for Dinamo Bucureti, A.C. Milan, Brescia Calcio, West Ham United, RCD Espanyol, VfB Stuttgart and A.S. Monaco. He played for Romania at the 1990 World Cup hosted by Italy, the 1994 World Cup in the United States, and Englands Euro 96. Rducioiu was a product of Dinamo Bucureti. Legendary Mircea Lucescu, former Dinamo coach, saw his skills and, as a feature of his philosophy towards football to promote young players, gave Rducioiu the chance to play at the highest level at the age of 17 years. Author: Miller, Frederic P./ Vandome, Agnes F./ McBrewster, John Binding Type: Paperback Number of Pages: 148 Publication Date: 2010/07/31 Language: English Dimensions: 5.98 x 9.01 x 0.34 inches

Gold Florin with a Fleur De Lys, Florentine, 1252 $49.99 Gold Florin with a Fleur De Lys, Florentine, 1252 - Giclee Print

Megadisasters By Diacu, Florin $28.24 Explains cataclysmic eventsincluding earthquakes, tsunamis, volcanic eruptions, hurricanes, rapid climate change, collisions with asteroids or comets, pandemics and financial crashesand details the mathematical modeling that researchers use to predict when the next big disaster will strike. Author: Diacu, Florin Subtitle: The Science of Predicting the Next Catastrophe Publication Date: 2009/10/19 Number of Pages: 195 Binding Type: Hardcover Language: English Depth: 1.00 Width: 6.50 Height: 9.75

Gold Florin Depicting St. John the Baptist, Florentine, 1252 $49.99 Gold Florin Depicting St. John the Baptist, Florentine, 1252 - Giclee Print

Walkabout Tokyo by Baiduc, Florin [Paperback] $71.2 Candid and street photography, mostly done in Tokyo. U.S. Letter, 21.59cm x 27.94cm, 8.5 x 11 paper format Author: Baiduc, Florin Binding Type: Paperback Number of Pages: 120 Publication Date: 2009/03/01 Language: English Dimensions: 11.00 x 8.50 x 0.31 inches

International Private Equity By Talmor, Eli/ Vasvari, Florin $74.2 Author: Talmor, Eli/ Vasvari, Florin Publication Date: 2011/06/15 Number of Pages: 747 Binding Type: Hardcover Language: English Depth: 2.00 Width: 8.25 Height: 10.25

Florin Cernat by Angelus, Jerold [Paperback] $87.62 Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. Florin Lucian Cernat (born 10 March 1980 in Gala i) is a Romanian football midfielder and playmaker. He is known for his excellent passing play, great vision on field, and highly precise freekicks and dribbling. Florin Cernat started his professional career at O elul Gala i. In 2000 he was noticed by Romanian giants, Dinamo Bucharest. Dinamo ended up buying him. The rising star was played most of the entire 200001 season, appearing for 25 out of 30 league matches. He helped the team finish 2nd in the league and qualify for the UEFA Cup. Cernat also participated in the teams UEFA Champions League 200001 campaign, which ended prematurely in the second round. Author: Angelus, Jerold Binding Type: Paperback Number of Pages: 108 Publication Date: 2011/06/16 Language: English Dimensions: 9.00 x 6.00 x 0.26 inches

Super 8 Sacramento Florin Ca $69.49 Super 8 Sacramento Florin Ca is located in Sacramento and local attractions include Sacramento Zoo, Fort Sutter State Historical Park, and California State University Sacramento. Regional points of interest also include California State Capitol and Power Balance Pavilion. Property Features. A complimentary continental breakfast is served each morning. Super 8 Sacramento Florin Ca features laundry facilities, coffee in the lobby, and RV and truck parking. High speed Internet access is available in public areas. Additional property amenities include air conditioning in public areas. Guest parking is complimentary. The front desk is open 24 hours a day. Guestrooms. 61 air conditioned guestrooms at Super 8 Sacramento Florin Ca feature coffee/tea makers and hair dryers. Refrigerators and microwaves are offered. Wired high speed and wireless Internet access is complimentary. In addition to desks, guestrooms offer direct dial phones as well as free local calls (restrictions may apply). Premium cable television is provided. Rooms also include complimentary toiletries and clock radios. Housekeeping is offered daily and guests may request wake up calls. Notifications and Fees:The following fees and deposits are charged by the property at time of service, check in, or check out. Pet fee: USD 10 per night The above list may not be comprehensive. Fees and deposits may not include tax and are subject to change. Notifications and Fees:The following fees and deposits are charged by the property at time of service, check in, or check out. Pet fee: USD 10 per night The above list may not be comprehensive. Fees and deposits may not include tax and are subject to change.

Netters Pediatrics By Florin, Todd/ Ludwig, Stephen $218.78 Author: Florin, Todd A., M.D. (EDT)/ Ludwig, Stephen, M.d. (EDT)/ Aronson, Paul L., M.D. (EDT)/ Werner, Heidi C., M.D. (EDT) Subtitle: Book and Online Access Publication Date: 2011/06/14 Number of Pages: 880 Binding Type: Hardcover Language: English Depth: 2.00 Width: 8.75 Height: 11.25

Florin Lovin by Numitor, Gerd [Paperback] $66.91 Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. Florin Lovin (born 11 February 1982 in Piatra Neam ), is a Romanian football player. He plays mainly as defensive midfielder. Lovin also played for FCM Bac u between 2001 and 2005, prior to joining Steaua Bucure ti, the latter having signed Florin Lovin for a fee of 150 000. He made his Divizia A debut on 25 May 2002 in the FCM Bacau 12 defeat at FC National. As of 1 January 2008, he played 132 games in Liga I scoring three goals. On 7 July 2008, Steauas coach Marius L c tu sent Lovin to Steaua II Bucure ti for the indiscipline during training. Steauas board have announced that Lovin has been transferlisted. On 8 July 2008 Gigi Becali said that he would not let Lovin go for less than 800 000. On 23 July 2008, Steauas coach called him back to first team. In 200910, Lovin was demoted to the B squad again. On 20 July 2009, Lovin was transferred to TSV 1860 M nchen. Author: Numitor, Gerd Binding Type: Paperback Number of Pages: 72 Publication Date: 2011/08/29 Language: English Dimensions: 9.02 x 5.98 x 0.17 inches

Florin-Fe Ferrous and Ferric Iron for Planted Freshwater Aquariums - 250 mL $5.39 Deliver bio-available ferrous and ferric iron to your aquatic plants quickly and easily with Florin-Fe. 2-tiered supplement approach provides immediate iron as well as gradual iron release during the light cycle. Brightwell Aquatics' Florin-Fe is 50% stronger than similar products. Treats up to 2,500 gallons.

Florin Niculescu - Djangophonie $39.92 Track listing not available.

Florin-Fe Ferrous and Ferric Iron for Planted Freshwater Aquariums - 20L - 5.3 $184.09 Deliver bio-available ferrous and ferric iron to your aquatic plants quickly and easily with Florin-Fe. 2-tiered supplement approach provides immediate iron as well as gradual iron release during the light cycle. Brightwell Aquatics' Florin-Fe is 50% stronger than similar products. Treats 20,000 gallons. Please call customer service to determine shipping costs at 1-888-THAT PET. Item is dropshipped directly from the manufacturer.

FLORIN - Lüster mit 8 Glühbirnen $404.24 SpezifikationKategorien: Kronleuchter, Pendelleuchten Stil: Kristall, Traditionell/Klassisch, Vintage Empholene R auml;umlichkeiten: Wohnzimmer, Schlafzimmer Anzahl der Lampen: 6~8 Beschichtung: Chrom Material: Kristall, Metall, Stoff H ouml;he: 70-91,5 cm Breite/Durchmesser: 70-91,5 cm Leistung: 40w 8 Gl uuml;hbirnensockel: 8 E14(220-240V),8 E12(110-120V) Gl uuml;hbirne enthalten oder nicht: Gl uuml;hbirne nicht enthalten Eingangsspannung: 110-120V,220-240V Produktma szlig;e (Inch): D29 H27in Versandgewicht: 10

FLORIN - Lustre com 8 Lâmpadas $404.24 Especifica ccedil; atilde;oCategoria: Lustres, Luzes Pingente Estilo: Cristal, Tradicional/Cl aacute;ssico, Vintage Espa ccedil;o Sugerido: Sala de Estar, Quarto Numero de Luzes: 6~8 Acabamentos: Cromada Materiais: Cristal, Metal, Material Altura: 24-36 polegadas Largura/Di acirc;metro: 24-36 polegadas Pot ecirc;ncia: 40w 8 Base da L acirc;mpada: 8 E14(220-240V),8 E12(110-120V) L acirc;mpada Incluida ou N atilde;o: L acirc;mpada N atilde;o Incluida Voltagem de Entrada: 110-120V,220-240V Dimens atilde;o do Produto(polegadas): D29 H27in Peso de Envio: 10

FLORIN - Lampadario con 8 lampadine $404.24 Specificazionicategoria: Lampadari, Luci Pendenti Stile: Cristallo, Tradizionale/Classico, Vintage Ideale per: Salotto, Camera da letto Numero di luci: 6~8 Colore finiture: Cromato Materiali: Cristallo, Metallo, Tessuto Altezza: 24-36 quot; Diametro/Larghezza: 24-36 quot; Potenza: 40w 8 Base lampadina: 8 E14(220-240V),8 E12(110-120V) Lampadina inclusa o non inclusa: Lampadina non inclusa Tensione di ingresso: 110-120V,220-240V Dimensioni prodotto (pollici): D29 H27in Peso: 10

Bach: Violin Partitas / Florin Paul $22.49 Tacet:010

Stochelo Rosenberg/Florin Nicolescu: Symphonic Django - AC3 Dolby Dts $24.99 This unique musical performance film finds two gypsy-jazz giants, Florin Nicolescue of France and Stochelo Rosenberg of Holland, re-interpreting a series of Django Reinhardt and Stephane Grappelli pieces for orchestra, with the assist of the Kristiansand Symphony and a jazz band comprised of such musicians as Joe Larsen and Svein Aarbostad. Selections include "Melodie au Crepuscule," "Nuits de St-Germain-des-pres," "Belleville" and many more. ~ Nathan Southern, Rovi

FLORIN - Lustre - 8 slots à ampoule $404.24 Sp eacute;cificationcat eacute;gorie: Lustre, Lampe suspendue Style: Cristal, Traditionnel/classique, Vintage Emplacement propos eacute;: Salle de s eacute;jour, Chambre Nombre des lampes: 6~8 Finition: Chrome Mat eacute;riaux: Cristal, M eacute;tal, Tissu Hauteur: 24-36 pouces Largeur/Diam egrave;tre: 24-36 pouces Source d'alimentation: 40w 8 Socle d'ampoule: 8 E14(220-240V),8 E12(110-120V) Ampoule incluse ou non: Ampoule non incluse Tension d'entr eacute;e: 110-120V,220-240V Dimensions du produit (pouce): D29 H27in Poids de livraison: 10

FLORIN - Arandela Cristal com 3 Lâmpadas $60.02 Especifica ccedil; atilde;oTipo: Moderno/Contempor acirc;neo, Transicional, Superficie Montada Espa ccedil;os Sugeridos: Interior Acabamentos: Cromado Materiais: Cristal, Metal N uacute;mero de Luzes: 3 Altura: 0-12 polegadas Largura: 0-12 polegadas Pot ecirc;ncia: 20W 3 Base da L acirc;mpada: G4 3 L acirc;mpada Inclu iacute;da ou N atilde;o: L acirc;mpada Inclu iacute;da Voltagem de Entrada: 110-120V,220-240V Dimens atilde;o do Produto(polegadas): D11.81 H5.91in Peso do Frete(Kg): 1.5​

FLORIN - Applique in cristallo con 3 lampadine $60.02 SpecificazioniTipo: Moderno/Contemporaneo, Stile transitional, Montata su superficie Ambiente ideale: Interno Finitura: Cromo Materiale: Cristallo, Metallo Numero di luci: 3 Altezza: 0-30 cm Larghezza: 0-30 cm Potenza: 20W 3 Lampadine: G4 3 Lampadine incluse o no: Lampadine incluse Tensione di ingresso: 110-120V,220-240V Dimensioni prodotto (pollici): D11.81 H5.91in Peso (Kg): 1.5​

Lámpara Chandelier con 8 Bombillas - FLORIN $404.24 EspecificacionesCategor iacute;a: L aacute;mparas Ara ntilde;a, L aacute;mparas Colgantes Estilo: Cristal, Tradicional/Cl aacute;sico, Vintage Espacio Recomendado: Sala de estar, Dormitorio N uacute;mero de Luces: 6~8 Acabado: Cromo Materiales: Cristal, Metal, Tejido Altura: 61-91.5 cm Ancho/Di aacute;metro: 61-91.5 cm Fuente de Alimentaci oacute;n: 40w 8 Base de Bombilla: 8 E14(220-240V),8 E12(110-120V) Bombilla Incluida o No: Bombilla no Incluida Voltaje de Entrada: 110-120V,220-240V Dimensi oacute;n del producto (Pulgada): D29 H27in Peso de Env iacute;o: 10

FLORIN - Wandlampe aus Kristall mit 3 Glühbirnen $60.02 SpezifikationTyp: Modern/Zeitgen ouml;ssisch, Klassisch-Modern, Aufmontiert geeignet f uuml;r folgenden Raum: Innen Legierung: Chrom Materialen: Kristall, Metall Lampenzahl: 3 H ouml;he: 0-30,5 cm Breite: 0-30,5 cm Spannung: 20W 3 Gl uuml;hbirne Basis: G4 3 Gl uuml;hbirne inklusive oder nicht: Inklusive Gl uuml;hbirne Eingangsspannung: 110-120V,220-240V Produktma szlig; (Inch): D11.81 H5.91in Versandgewicht(Kg): 1.5​

Bach: Partitas For Solo Violin / Florin Paul $21.49 Tacet:010

Bach: Sonatas For Solo Violin / Florin Paul $21.49 Tacet:047

Goldm Nze: Gulden, Solidus, Panda, St. Gaudens Double Eagle, Wiener Philharmoniker, Sovereign, Pfaffenfeindtaler, Aureus, Goldvre $19.48 Kapitel: Gulden, Solidus, Panda, St. Gaudens Double Eagle, Sovereign, Goldvreneli, Aureus, Wiener Philharmoniker, Krugerrand, Maple Leaf, Britannia, Dukat, Islamischer Dinar, Goldmnze Karls Des Groen, Friedrich D'or, Amani, Florin, American Buffalo, Guinee, Nobel, American Gold Eagle, Tscherwonez, Karolin, Stater, Helvetia, Koala, Goldstater, Regenbogenschsselchen, Louis D'or, Babenberger, Mohur, cu Au Soleil, Zecchine, Maraved, Nugget, Augustalis, Altun, Fanam, Multipla, Unite, Spanischer Escudo, Toman, Blauer Gulden, Pistole, Dublone, Zeri Mahbub, Moidore. Aus Wikipedia. Nicht dargestellt. Auszug: Guilder is the English translation of the Dutch gulden - from Old Dutch for 'golden'. The guilder originated as a gold coin (hence the name) but has been a common name for a silver or base metal coin for some centuries. The name has often been interchangeable with florin. The guilder in the Netherlands was replaced by the euro on 1 January 2002. One-and-a-half guilder was called a daalder (see thaler); two-and-a-half guilder was called a rijksdaalder. The word daalder/thaler is the origin of dollar. Current guilder: Former currencies of the Kingdom of the Netherlands: Historical guilders or guldens: Other coin names that are derived from the gold of which they were once made: ...http://booksllc.net/?l=de

Double $22.99 Double

Florin-Gro Nitrogen Fertilizer for Planted Freshwater Aquarium - 20L - 5.3 gal $184.09 Accelerate the growth in your planted aquaria with this growth supplement. Concentrated nitrogen provides rapid growth to all aquarium plant species. Also contains a kelp extract for natural growth and flowering encouragement. Treats 20,000 gallons Please call customer service to determine shipping costs at 1-888-THAT PET. Item is dropshipped directly from the manufacturer.

Florin-K Potassium Source Fertilizer for Planted Freshwater Aquarium - 20L - 5.3 $184.09 Concentrated source of high-purity potassium for aquatic plants. Potassium helps activate enzymes in various biochemical reactions crucial for plant health and growth. Formulated following extensive research in aquatic plant requirements. Please call customer service to determine shipping costs at 1-888-THAT PET. Item is dropshipped directly from the manufacturer.

Florin-K Potassium Source Fertilizer for Planted Freshwater Aquariums - 250 mL $5.39 Concentrated source of high-purity potassium for aquatic plants. Potassium helps activate enzymes in various biochemical reactions crucial for plant health and growth. Formulated following extensive research in aquatic plant requirements. Treats up to 2,500 gallons.

Florin-K Potassium Source Fertilizer for Planted Freshwater Aquariums - 500 mL $8.69 Concentrated source of high-purity potassium for aquatic plants. Potassium helps activate enzymes in various biochemical reactions crucial for plant health and growth. Formulated following extensive research in aquatic plant requirements. Treats up to 5,000 gallons.

Florin-gro Nitrogen Fertilizer for Planted Freshwater Aquarium - 250mL - 8.5 oz $5.39 Accelerate the growth in your planted aquaria with this growth supplement. Concentrated nitrogen provides rapid growth to all aquarium plant species. Also contains a kelp extract for natural growth and flowering encouragement. Treats up to 2,500 gallons.

Irish Florin “Salmon� Two Toned Coin Hinged Money Clip $49.48 This real coin from Ireland, which is a little smaller than a U.S. half dollar, is first layered in pure bright silver. Then, by hand, the figure is highlighted and brought to life with rich, pure 24K gold. This breathtaking and exclusive work turns the coin into a stunning and true work of art. Each coin is hermetically sealed against wear in a clear, hard acrylic coating and comes in a jewelry box. The coin comes mounted in a patented hinge type clip that will hold just one bill or a number of bills. Please Note: The gold and silver is much brighter and distinct than what the photograph shows.

Irish Florin Salmon Two Tone Coin Bolo Tie $45.67 Gorgeous two toned gold on silver world coin bolo tie.The coin is a little smaller than a half dollar. Each one of these real coins from around the world is first layered in pure bright silver. Then, by hand, the figures of each are highlighted and brought to life with rich, pure 24KT gold. This breathtaking work, done exclusively by J & J Jewelers, turns the coin into a stunning and true work of art. Each coin is hermetically sealed against wear in clear, hard acrylic coating. It is made into a bolo tie with your choice of either a black or brown bolo cord, and in a nice box.Please Note: The gold and silver is much brighter and distinct than what the photograph shows.